Life Insurance
Insurer must restore policy after misleading ill claimant
29 April 2024
The Australian Financial Complaints Authority has told TAL Life Insurance to reinstate a 34-year-old’s policy after it found the company misled the man about his coverage before cancelling his payouts...
Financial services bodies flag education proposal to attract new blood
29 April 2024
A coalition of financial services bodies has made a pitch to the Federal Government to arrest the declining numbers of advisers...
FSC signs up more advice licensees, appoints directors
29 April 2024
The Financial Services Council has expanded its financial advice representation and appointed four new board directors...
TAL launches ethics courses for advisers
29 April 2024
TAL is introducing four new courses for advisers on navigating conflicts, ethical dilemmas, recent client determinations and how embedding ethics can shape their advice and daily business...
APRA details life claims
22 April 2024
The Australian Prudential Regulation Authority has released life claims statistics for last year...
Insurer made to pay for TPD claim delays
22 April 2024
The Australian Financial Complaints Authority has awarded a policyholder $2000 compensation after finding her insurer has taken too long to assess a total and permanent disability claim...
ClearView says life strategy is working
22 April 2024
ClearView Wealth says its life growth strategy is paying off as the business continues to gain market share...
MetLife secures UniSuper insurance tender
22 April 2024
MetLife has won a contract to provide life insurance to UniSuper fund members from June 1...
Challenger upbeat amid ‘sales remix’
22 April 2024
Challenger says the business performed well in the third quarter, supported by its core life division...
Further rise in code breaches sparks concern
15 April 2024
The Life Insurance Code Compliance Committee says the industry needs to step up after breaches rose for the third straight year, growing 9% to 12,314 for the 2022-23 reporting period...
AFCA warns of ‘devastating consequences’ from miscommunication
15 April 2024
The Australian Financial Complaints Authority flagged the importance of providing accurate information to insureds at a recent member forum for the life industry...
Financial security trumps groceries, holidays
15 April 2024
Australians value life insurance so highly they are prepared to reduce other expenses to keep their policies, annual research from NobleOak Life has found...
Watchdog rules against complainant who failed to disclose ailments
15 April 2024
A woman who alleged her financial adviser gave her inappropriate insurance advice, arranging new policies that came with mental health and lumbar spine exclusions, has lost her dispute...
AIA offers incentive for wellbeing program
15 April 2024
AIA has introduced rewards to encourage deeper engagement with its Vitality health and wellbeing program...
Resolution sees ‘compelling opportunity’ with Asteron purchase
08 April 2024
Resolution Life says its planned $NZ410 million ($375 million) acquisition of New Zealand insurer Asteron Life will give it “significant scale and capability” in the country...
Ombudsman praises industry as complaints plummet
08 April 2024
Some 1596 life insurance disputes were lodged with the Australian Financial Complaints Authority last year, down 35% from 2022, a recent member forum heard...
Adviser body takes stock after first year
08 April 2024
Financial Advice Association Australia will continue advocating “fearlessly” for the profession, Chair David Sharpe says in a message marking the peak body’s first anniversary...
MLC Life fills board seat
08 April 2024
MLC Life Insurance says Koji Ichiba has joined as a board director and member of its executive team...
Asteron Life shakes up benefits, policy wordings
08 April 2024
New Zealand insurer Asteron Life has made changes to its personal and business insurance offerings and revamped policy wordings as part of its plain language commitment...
MetLife workers secure menopause, gender leave entitlements
08 April 2024
MetLife Australia staff will have new leave benefits, including for menopause, after the insurer consulted its employee-led diversity, equity and inclusion committee...